Malaysia on Target to Realise Investment Goal of US$36.1 Billion for 2012

KUALA LUMPUR, June 29 (Bernama) –- Malaysia is on target to realise the investment goal of RM115 billion (US$36.1 billion) for this year, said Minister of International Trade and Industry, Mustapa Mohamed. This, he said, is despite the uncertainty in the United States, the Eurozone crisis and moderation in economic growth in some countries. It was reported that investments last year exceeded RM90 billion (US$28.26 billon), surpassing the official RM83 billion (US$26.03 billion) target. "Malaysia's performance is reasonable and on track to achieve four to five per cent economic growth for this year," Mustapa told a media briefing on Thursday. According to a survey by the Malaysian Investment Development Authority (MIDA), 976 companies which responded, planned to invest RM97.4 billion (US$30.55 billion) this year. Of this, 42 per cent were from oil and gas, 20 per cent from manufacturing, 13 per cent in infrastructure and utilities, 23 per cent from services and two per cent from agriculture. The Chief Executive Officer of the Performance Management and Delivery Unit (Pemandu), Idris Jala said foreign investors had confidence in the country. "Foreign investment is coming to the country in line with the international FDI confidence index of foreign investors in Malaysia," Idris Jala said at the media briefing. -- BERNAMA